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Home » business » Tata Motors partners IndusInd Bank to offer finance solutions for passenger vehicles

Tata Motors partners IndusInd Bank to offer finance solutions for passenger vehicles

As part of this partnership, the auto major will provide the 'Step Up' scheme where the customers can choose and buy from its range of passenger cars in the country, with a special low EMI option scheme for the first 3-6 months.

By Newsd
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Tata Motors Q2 standalone net profit at Rs 109 cr

Tata Motors on Friday said it has rolled out finance offers for its passenger vehicle customers in collaboration with IndusInd Bank.

As part of this partnership, the auto major will provide the ‘Step Up’ scheme where the customers can choose and buy from its range of passenger cars in the country, with a special low EMI option scheme for the first 3-6 months.

”The recent COVID-19 upsurge has impacted everyone, and to help our passenger car family in these challenging moments, we are delighted to be partnering with IndusInd Bank to roll out special finance schemes,” Tata Motors Passenger Vehicles Business Unit Head Network Management and Trade Finance Ramesh Dorairajan said in a statement.

This is in alignment with the company’s constant effort to fast track the availability of safe personal mobility solutions to individuals and families at pocket-friendly rates, he added.

“At IndusInd, we believe in staying agile and responding to customer needs in keeping with emerging demand indicators.

“These innovative financial schemes aim at not only reducing the burden on the customer’s wallet during these tough times but also allow them to prioritise commuting in a hygienic, safe and comfortable environment. We take pride in joining hands with Tata Motors to roll out these schemes,” IndusInd Bank Executive Vice President (Passenger Vehicles) T A Rajagoppalan, said.

Under the Step Up scheme, customers can now avail EMI options lowered by 60 per cent, starting from Rs 834 per lakh per month, depending on the scheme and the products at an attractive interest rate. As per the scheme, the EMI payments will remain lower for 3-6 months depending on the convenience of the buyer. This will be provided with non-income proof funding and flexible tenor options ranging from 1 to 7 years, depending on the product and variant.

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